Descente’s net income was down 14% to ¥2,739 million ($17.6 mm) in the first fiscal quarter ended June 30 from ¥3,191 million, as revenues inched up 1% to ¥27,482 million ($176.3 mm) against ¥27,162 million. The Japanese sportswear company’s gross margin improved by 150 basis points to 62.3%, while operating expenses were up 13% in yen, deleveraging 620 b.p. as a percent of sales. The home Japan market declined 13% to ¥9,665 million, while China ticked up 4% to ¥3,346 million and South Korea increased 13% to ¥13,907 million. Athleticwear ... Log in to view full article.